Vail Resorts has signed an agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. The move would add 17 U.S. ski areas to the company’s portfolio.
The acquisition is still subject to certain conditions, including regulatory review and Peak Resorts’ shareholder approval, Vail said.
The 17 new ski areas are near a number of major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville. The newly added resorts include:
- Mount Snow in Vermont
- Hunter Mountain in New York
- Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire
- Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania
- Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio
- Hidden Valley and Snow Creek in Missouri
- Paoli Peaks in Indiana
In a written statement Rob Katz, chairman and chief executive officer of Vail Resorts, said that the newly added ski areas in the Northeast will complement the company’s existing resorts and provide a “compelling offering” to New York- and Boston-area guests. The acquisition will also strengthen the company’s presence in the mid-Atlantic and Midwest, building on its earlier acquisitions near Chicago, Minneapolis and Detroit, he said.
When the transaction closes, the 2019-20 Epic Pass, Epic Local Pass and Military Epic Pass will include unlimited and unrestricted access to the 17 Peak Resorts ski areas. Guests with an Epic Day Pass will also be able to access the new ski areas as a part of the total number of days purchased. For the 2019-20 season, Vail Resorts will honor and continue to sell all Peak Resorts pass products, and Peak Resorts’ pass holders will have the option to upgrade to an Epic Pass or Epic Local Pass, following closing of the transaction.